When Avant Money launched its “One Mortgage” product in Ireland, it changed the mortgage market almost overnight. For the first time, Irish borrowers were given the option to fix their interest rate for the entire term of their mortgage — up to 30 years.
In a market where uncertainty around interest rates has become a major concern for homeowners, long-term fixed rate mortgages offer something many buyers are looking for: stability.
At Mortgage123, we are seeing more and more borrowers asking the same question: Should I fix my mortgage long term? The answer depends on your circumstances, but for many people, the certainty and peace of mind can be extremely appealing.
What Is the Avant Money “One Mortgage”?
The Avant Money One Mortgage allows borrowers to lock in a fixed repayment for the full duration of their mortgage term, from 5 years all the way up to 30 years.
Unlike traditional fixed rate mortgages, where borrowers typically fix for 3, 5, or 10 years before moving onto another rate, the One Mortgage allows you to secure a rate from the very beginning and keep it for the lifetime of your loan.
Note: You can check the current “One Mortgage” rates and cash back offers available.
That means your repayment remains unchanged regardless of what happens with interest rates in the wider market.
While Avant has adjusted some of its shorter-term fixed rates over time, it has continued to position its longer-term products as an attractive option for borrowers who value predictability and long-term financial planning. There may also be cashback or switching incentives available from time to time, making it worth reviewing the latest offers before making a decision.
Why Are More Borrowers Considering Long-Term Fixed Rates?
Over the past few years, rising interest rates have shown just how quickly mortgage repayments can change. Many homeowners who were previously on low variable or short-term fixed rates saw their monthly repayments increase significantly when rates began to rise.
This has led many borrowers to look for greater security and protection against future increases.
With a long-term fixed mortgage, your repayments stay the same throughout your chosen fixed period. Whether interest rates rise sharply or fluctuate over time, your mortgage repayment remains predictable.
For many households, that consistency makes budgeting much easier. Knowing exactly what your mortgage will cost each month can provide real confidence when planning for other major life expenses such as childcare, education, renovations, or retirement savings.
The Benefits of Fixing Your Mortgage Long Term
One of the biggest advantages of a long-term fixed mortgage is peace of mind.
Your mortgage is likely to be your largest monthly expense, so removing uncertainty around repayments can be hugely valuable. For buyers who prefer financial stability and want to avoid surprises, fixing long term can provide reassurance that their repayments won’t suddenly increase in the future.
You may ask: ‘what if I want to trade up or move location?’ The One Mortgage product does offer some level of flexibility as well. You can overpay up to 10% each year without penalty. If you move home, you can also take advantage of options to help avoid early redemption fees.
For switchers in particular, long-term fixed rates can also offer an opportunity to secure a competitive repayment and potentially reduce monthly costs compared to their existing lender.
Is a Long-Term Fixed Mortgage Right for Everyone?
Not necessarily — and that’s why professional mortgage advice is so important.
While fixing for the full mortgage term offers certainty, it can also reduce flexibility. If you decide to move home, switch lenders, refinance, or repay your mortgage early, breakage fees may apply depending on your circumstances and market conditions.
Fixing for the entire term of the mortgage may not be for everyone, so a fixed rate of 3, 5, 7 or 10 years may be an option as well.
The right option depends on several factors, including:
- Your long-term plans
- Your attitude to financial risk
- Your current income and expenses
- Whether you value certainty over flexibility
- How long you expect to remain in the property
There is no “one-size-fits-all” mortgage, which is why speaking with a broker can make such a difference.
Why Use a Mortgage Broker?
Choosing a mortgage is about more than simply finding the lowest rate. It’s about selecting a mortgage product that suits your life now and in the future.
At Mortgage123, we help borrowers compare the available options and understand the pros and cons of each choice. Whether you are considering a long-term fixed rate, a shorter fixed period, or exploring switching opportunities, we can guide you through the process and help you find the right fit for your circumstances.
As part of Avant Money’s broker network, we can assess whether the One Mortgage is suitable for you and compare it against other lenders and products available on the market.
Avant Money officially announced and launched the “One Mortgage” on June 18, 2021. It was introduced as the first product in the Irish market to allow borrowers to lock into a fixed interest rate for the full duration of their mortgage loan (up to 30 years). Lock into a fixed rate mortgage today for certainty and peace of mind!